Tuesday, February 11, 2003
Lawmakers rush passage of money laundering amendments (9:38 am)
MANILA -- Legislators are meeting Tuesday in a last-minute bid to enact changes to strengthen a money-laundering law and escape threatened sanctions from western nations, officials said.
The Senate unanimously passed its version of the changes late Monday, setting the stage for a conference committee meeting Tuesday to reconcile it with a measure passed by the House of Representatives.
Sen. Ramon Magsaysay, sponsor of the Senate version, said representatives of the two chambers are to meet at 10 a.m. to work out a compromise.
The government has warned that the Philippines faces sanctions which would delay financial transactions unless the changes are passed on or before Feb. 12. (AFP) |
